The wheat market surged today on the resumption of Russia bombing Kiev. This could limit the advances being made for Ukraine exports from certain regions of the country. The market clearly will be susceptible to each issue from the black sea region. In addition, a port was destroyed in Ukraine limiting export prospects. It seems prudent to expect more problems on a regular basis. The corn followed along with Wheat today. The corn was due a relief rally given the recent approx 75 cent price drop. The domestic weather looks good for planting which may limit further upside. The market also believes that there will not be much in the way of acreage shifts. I believe through the corn belt this is accurate. I still leave fringe acres open for debate until we see.
Time will tell
BE WELL,
John J. Walsh
President, Walsh Trading, Inc.
800-993-5449
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